Construction group Galliford Try has acquired housebuilder Rosemullion Property Company for £200,000 in cash.

The deal comes after Galliford Try acquired the residential assets of Wright Homes (Hull) out of administration in May. Cornwall-based Rosemullion Homes generated a turnover of £7.5 million in 2008.

Greg Fitzgerald, chief executive of Galliford Try, said: 'Rosemullion Homes is an excellent example of an opportunity to acquire a quality local housebuilder in line with our strategy of growing our housebuilding business both in and adjacent to our existing areas of operation across the south of England.'

Galliford Try reported revenue of £1.5 billion and pre-tax profits of £24.5 million in the year ending June.